Biden to double minimum wage

danielpalos

Diamond Member
Joined
Jan 24, 2015
Messages
64,839
Reaction score
3,208
Points
1,855
Location
Alta California, federalist.
How is it a lie? The richest can afford it, why shouldn't those rich enough to be paid thirty dollars an hour?
You said consumers, like the guy making $30/hr, can afford to pay more, because they'll make more, after the minimum wage is hiked to $15.

If you can't explain how, just say so.

Or admit you lied.
I don't need to lie, unlike right wingers who have nothing but fallacy.

A higher minimum wage puts an upward pressure on wages. The private sector is a price taker not a price maker since that is a function of Government and done by the public sector under the statutory authority of (the socialism of) Law.
I don't need to lie,

But you still did.

A higher minimum wage puts an upward pressure on wages.

It's quicker if you just admit you lied.

The private sector is a price taker not a price maker since that is a function of Government

The government is a price maker? How did that work out historically?
Not having any valid rebuttals give the lie to You, not me.

It worked out fine; public sector command economics achieved full employment and won WWII.
Not having any valid rebuttals give the lie to You, not me.

Labor is only one factor of production and those costs can easily be justified and passed on to consumers

Only immoral capitalists do that instead of simply passing costs to the consumer who can afford more with a higher minimum wage.


Your comments rebut themselves.

And your inability to post your proof when challenged.

It worked out fine;

Hilarious!!
Which prices are still made by government?
What percentage is that of the total number?

Must be a lot, because "it worked out fine". DURR
You are even more hilarious. Capitalists pass on costs to the consumers all the time. You are the one claiming they can't for the rising minimum wage when labor will have more money to spend.
You are the one claiming they can't for the rising minimum wage when labor will have more money to spend.

Did you ever explain how the guy making making $30/hr has more money to spend
when the minimum goes up to $15/hr?
Eventually, due to that upward pressure on wages.
Oh, prices go up almost instantly and eventually, maybe, in a year or two (or more),
the increased unemployment caused by the mandated hike in costs will lead
to higher wages.

That's funny!
Only if you misunderstand the economics involved. A statutory minimum wage increase is just Government moving the goalposts. Higher wages will follow that increase in the minimum wage due to normal market based arbitrage. Labor should start clamoring for a wage increase.
 

Toddsterpatriot

Diamond Member
Joined
May 3, 2011
Messages
64,580
Reaction score
12,746
Points
2,180
Location
Chicago
Only if you misunderstand the economics involved.
Feel free to explain.

A statutory minimum wage increase is just Government moving the goalposts.

Yes, it's awesome when they do that and increase unemployment and prices. Win-Win!!!

Higher wages will follow that increase in the minimum wage due to normal market based arbitrage.

Cool theory. No really, explain how.
 

danielpalos

Diamond Member
Joined
Jan 24, 2015
Messages
64,839
Reaction score
3,208
Points
1,855
Location
Alta California, federalist.
Yes, it's awesome when they do that and increase unemployment and prices. Win-Win!!!
Tell that to Capitalists who downsize merely for the bottom line. To some on the left, it would be a good excuse to ask Congress for a tax break to cover that increase for the first year until markets re-arbitrage a new equilibrium.
 

initforme

Gold Member
Joined
Apr 23, 2011
Messages
14,880
Reaction score
1,980
Points
265
Some idiots think if you work for 7.25 an hour well heck work hard.....not people of good intelligence.
 

Toddsterpatriot

Diamond Member
Joined
May 3, 2011
Messages
64,580
Reaction score
12,746
Points
2,180
Location
Chicago
Tell that to Capitalists who downsize merely for the bottom line.
Why the fuck else would you downsize?

To some on the left, it would be a good excuse to ask Congress for a tax break to cover that increase for the first year until markets re-arbitrage a new equilibrium.

When you make a firm unprofitable, a reduction in tax rates is unhelpful.
A new equilibrium is fewer businesses, higher prices and less employment.
 

danielpalos

Diamond Member
Joined
Jan 24, 2015
Messages
64,839
Reaction score
3,208
Points
1,855
Location
Alta California, federalist.
Tell that to Capitalists who downsize merely for the bottom line.
Why the fuck else would you downsize?

To some on the left, it would be a good excuse to ask Congress for a tax break to cover that increase for the first year until markets re-arbitrage a new equilibrium.

When you make a firm unprofitable, a reduction in tax rates is unhelpful.
A new equilibrium is fewer businesses, higher prices and less employment.
What are you talking about? Capitalists pass costs on to consumers whenever they can get away with it for the bottom line.
 

Dadoalex

Gold Member
Joined
Jan 11, 2021
Messages
479
Reaction score
207
Points
143

HenryBHough

Platinum Member
Joined
Jul 14, 2011
Messages
30,589
Reaction score
6,659
Points
1,140
Location
Oak Grove, Massachusetts
Biden and his socialist team will have us in another great depression within 6 months....they have no idea how a economy works.



View attachment 443436
I give it six weeks. It'll take AOC just two weeks after she has Xiden "put away" and Xarris will need about a month to kill off any remaining economic activity.
 
OP
Bleipriester

Bleipriester

Freedom!
Joined
Nov 14, 2012
Messages
27,403
Reaction score
2,193
Points
275
Location
Stupid-19
After all that fat cat socialism under the Blob, Biden has some real useful present for the populace: An increase of the federal minimum wage by more than 100 %.

What does it matter? You being a foreigner and a resident of another country, won't be getting any of that, will you?
Maybe I am leaving my shithole where everything works just fine?
Why not? Lots of your people want to come here. Must be a reason for that.
Because they are not valued correctly. Just contributors to a form of society our constitution loses not a single word about.
 

HenryBHough

Platinum Member
Joined
Jul 14, 2011
Messages
30,589
Reaction score
6,659
Points
1,140
Location
Oak Grove, Massachusetts
When "the bottom line" means "survival" the mind becomes focused. If some jobs go and the business lives then some jobs are saved. But with the progressives they're rather have everyone unemployed and on welfare than some earning their keep.
 

danielpalos

Diamond Member
Joined
Jan 24, 2015
Messages
64,839
Reaction score
3,208
Points
1,855
Location
Alta California, federalist.
OP
Bleipriester

Bleipriester

Freedom!
Joined
Nov 14, 2012
Messages
27,403
Reaction score
2,193
Points
275
Location
Stupid-19
When "the bottom line" means "survival" the mind becomes focused. If some jobs go and the business lives then some jobs are saved. But with the progressives they're rather have everyone unemployed and on welfare than some earning their keep.
Lets make a deal. You cons do the low wage jobs and save them this way. 7.25 is a joke, I earned that in a vacation job.
 

Markle

Gold Member
Gold Supporting Member
Joined
Apr 15, 2016
Messages
21,185
Reaction score
4,828
Points
290
Location
Tallahassee, FL
Yes, it's awesome when they do that and increase unemployment and prices. Win-Win!!!
Tell that to Capitalists who downsize merely for the bottom line. To some on the left, it would be a good excuse to ask Congress for a tax break to cover that increase for the first year until markets re-arbitrage a new equilibrium.
What other line is there?
 

Markle

Gold Member
Gold Supporting Member
Joined
Apr 15, 2016
Messages
21,185
Reaction score
4,828
Points
290
Location
Tallahassee, FL
When "the bottom line" means "survival" the mind becomes focused. If some jobs go and the business lives then some jobs are saved. But with the progressives they're rather have everyone unemployed and on welfare than some earning their keep.
Lets make a deal. You cons do the low wage jobs and save them this way. 7.25 is a joke, I earned that in a vacation job.
Thank you for making the point. You did very well at $7.25 an hour. My first real job, at 16, paid $0.85 per hour. $0.15 below the minimum wage. It paid that because we also received tips. That was a GREAT learning experience. I learned quickly that the harder I worked and the better job I did bagging those groceries, the more money I made. It was great!

Just curious, what is the typical household income of someone earning $7.25 an hour?
 

New Topics

Most reactions - Past 7 days

Forum List

Top